"The best gold investments are buried in the earth, not in financial reports. At
United Services, we know that managing gold funds involves more than number
crunching. It takes a team with the experience to dig deeper. Let me introduce
you to our world-class team..."
FRANK HOLMES President & CEO United Services Funds
U.S. WORLD GOLD FUND
[MOUNTAIN GRAPH PLOTTED FROM DATA IN TABLE BELOW]
<TABLE>
Compare the U.S. World Gold Fund
to gold bullion over 5 years.
* U.S. World Gold Fund $23,545.51
* Gold bullion $10,857.40
<CAPTION>
Gold Price U.S. World
Bullion Gold Fund
---------- -----------
<S> <C> <C>
5/31/91 ............................... 10000 10000
6/28/91 ............................... 10220.59 10737.97
7/31/91 ............................... 10067.98 10770.05
8/30/91 ............................... 9639.28 9700.534
9/30/91 ............................... 9847.388 9850.267
10/31/91 ............................... 9918.144 10844.92
11/29/91 ............................... 10163.71 10909.09
12/31/91 ............................... 9798.829 10438.5
1/31/92 ............................... 9825.189 10695.19
2/28/92 ............................... 9797.441 10545.45
3/31/92 ............................... 9481.117 9807.486
4/30/92 ............................... 9332.667 8877.005
5/29/92 ............................... 9364.854 9593.583
6/30/92 ............................... 9528.289 10149.73
7/31/92 ............................... 9929.243 10737.97
8/31/92 ............................... 9434.224 10481.28
9/30/92 ............................... 9683.953 10481.28
10/30/92 ............................... 9413.413 10053.48
11/30/92 ............................... 9273.009 9262.032
12/31/92 ............................... 9236.938 9946.524
1/29/93 ............................... 9168.956 9475.935
2/26/93 ............................... 9089.874 10245.99
3/31/93 ............................... 9372.901 11433.15
4/30/93 ............................... 9830.739 13101.6
5/31/93 ............................... 10473.1 14866.31
6/30/93 ............................... 10500.85 15604.28
7/30/93 ............................... 11147.65 18545.45
8/31/93 ............................... 10309.39 17080.21
9/30/93 ............................... 9864.313 14941.18
10/29/93 ............................... 10255.28 17401.07
11/30/93 ............................... 10291.35 17080.21
12/31/93 ............................... 10870.17 18877
1/31/94 ............................... 10485.59 19529.41
2/28/94 ............................... 10586.86 18513.37
3/31/94 ............................... 10799.13 18545.45
4/29/94 ............................... 10445.35 17058.82
5/31/94 ............................... 10754.74 17871.66
6/30/94 ............................... 10773.05 16716.58
7/29/94 ............................... 10655.12 16737.97
8/31/94 ............................... 10703.68 17508.02
9/30/94 ............................... 10955.91 18556.15
10/31/94 ............................... 10650.68 17786.1
11/30/94 ............................... 10629.87 15326.2
12/30/94 ............................... 10634.31 15679.14
1/31/95 ............................... 10402.34 14028.71
2/28/95 ............................... 10443.96 14328.79
3/31/95 ............................... 10877.11 15979.22
4/28/95 ............................... 10814.67 16418.63
5/31/95 ............................... 10663.17 16386.47
6/30/95 ............................... 10754.74 16943.76
7/31/95 ............................... 10636.81 17683.25
8/31/95 ............................... 10609.06 18165.52
9/29/95 ............................... 10655.12 18154.8
10/31/95 ............................... 10617.39 16290.02
11/30/95 ............................... 10760.29 17683.25
12/29/95 ............................... 10738.37 18176.23
1/31/96 ............................... 11252.81 21112.72
2/29/96 ............................... 11116.85 21680.73
3/29/96 ............................... 10997.53 22838.18
4/30/96 ............................... 10857.4 23545.51
(Source: Micropal)
</TABLE>
TRUST THE EXPERTS. Most gold funds are managed by financial analysts with little
or no mining or geological experience. Our Gold and Natural Resources Team
includes investment professionals who also have extensive experience in geology,
mining engineering, mineral economics and mining finance. By visiting mining
operations worldwide and bringing along their geological expertise, our
investment managers are able to evaluate mining projects first hand.
SELECT THE BEST GOLD FUND. THE U.S. WORLD GOLD FUND invests in mining companies
around the world. Its investments are focused in the United States, Canada and
Australia. The Fund is 100% no-load and has a minimum initial investment of only
$1,000.
[GRAPHIC: Full-length picture of Victor Flores standing on world map]
VICTOR FLORES
Chief Investment Officer
and Portfolio Manager
[GRAPHIC: Full-length picture of David Maynard standing on world map]
DAVID MAYNARD
Senior Research Analyst
[GRAPHIC: Full-length picture of Frank Homes standing on world map]
FRANK HOLMES
President & CEO
United Services Funds
[GRAPHIC: Full-length picture of Michael Chapman standing on world map]
MICHAEL CHAPMAN
Senior Research Analyst
[GRAPHIC: Full-length picture of Dr. Naijiang Zhou standing on world map]
DR. NAIJIANG ZHOU
Senior Research Analyst
[GRAPHIC: "*" ON APPROPRIATE LOCATIONS ON WORLD MAP]
------------------------
* Countries researched
and visited by our
Gold and Natural
Resource Team
------------------------
-------- ---------- --------- --------
58.62% 21.44% 20.57% 11.60%
ONE YEAR THREE YEAR FIVE YEAR TEN YEAR
-------- ---------- --------- --------
AVERAGE ANNUAL TOTAL RETURNS AS OF 6/3/96
[GRAPHIC: United Services Funds Logo]
Put the United Services Gold and Natural Resources Team to work for you. For a
free investment kit containing everything you need to open an account, call
1-800-557-2297, ext. 136.
Like all mutual funds, Fund shares are not backed by the U.S. government. Past
performance is no guarantee of future results. *U.S. stands for United Services.
Investment returns and principal value will fluctuate so that you may have a
gain or a loss when you sell shares. Investments in gold funds involve special
risks. Gold bullion does not pay dividends. U.S. World Gold reflects total
return with all dividends reinvested.
